Peacock is raising the prices of its streaming subscription plans, with changes set to take effect this summer. The monthly subscription fees for new customers will increase by $2, with Peacock Premium costing $8 per month and Peacock Premium Plus priced at $14 per month. Annual plans will also see a significant bump, going up from $60 to $80 for Premium, and from $120 to $140 for Premium Plus. Existing subscribers will see the price hike starting on August 17. The decision to raise prices coincides with the 2024 Summer Olympics, which will be broadcast live on the platform from Paris.
In addition to the price increase, Peacock is offering enhanced features to improve the viewing experience for customers. These include watch parties with host Alex Cooper, an interactive tool called Peacock Live Actions, and multiview, which allows for four simultaneous views. The platform will also be airing the NFL’s Eagles vs. Packers overseas game live from São Paulo. The move by Peacock to raise prices follows a trend among major streaming services in 2023, all of which raised their subscription rates. However, Peacock is the first mainstream platform to do so this year, with the company having previously increased prices on all its plans in July of last year.
Although there is still a free, ad-supported tier on Peacock, new accounts are not eligible for this option. Existing subscribers can downgrade their plans if they wish to access the free tier. Additionally, those who have Xfinity internet or Instacart Plus may qualify for a free Peacock Premium subscription. Customers can stay updated on the latest streaming news by following coverage on topics such as Disney Plus’ password-sharing crackdown and updates on ESPN’s streaming launch. Peacock’s decision to raise prices comes after parent company Comcast announced that the platform had gained 3 million new paid subscribers in the first quarter of 2024. The price hike aims to improve the overall streaming experience for customers, especially with the upcoming live coverage of the 2024 Summer Olympics on the platform.
Overall, the price increase for Peacock’s streaming subscription plans aligns with the company’s goal of enhancing the platform’s offerings and providing a more interactive viewing experience for customers. Despite the price hike, there are still options available for those looking to access the service at a lower cost, such as the free, ad-supported tier or eligibility for free access through partnerships with Xfinity internet or Instacart Plus. By raising prices and introducing new features, Peacock aims to remain competitive in the streaming market and continue to attract subscribers looking for a diverse range of content and viewing options. Customers can expect to see the price changes go into effect this summer, with new rates for both monthly and annual plans.
